EDF Energy response to Ed Davey's Annual Energy Statement
EDF Energy CEO Vincent de Rivaz first called for an inquiry by the Competition Commission into gas and electricity markets two years ago. He repeated this call in a speech at EDF Energy’s Talkpower conference with major customers on 8 October this year.
Vincent de Rivaz said: “We welcome the announcement of an annual competition assessment. It will be a helpful step to restore public trust in the industry. I’ve been calling for a competition authority to intervene for some time. To restore public trust, we must demonstrate that we are acting fairly. To do this, transparency is vital. We have nothing to hide.”
EDF Energy looks forward to working with the OFT, CMA and Ofgem as they deliver their annual assessments.
The company will also work with DECC and Ofgem on the other measures announced today, including faster switching.
EDF Energy has called for greater openness in the industry’s financial reporting. In fact, the company is already in discussion with Ofgem as to how it can further improve the transparency of its segmental accounts.